Saudi Arabia to Raise Oil Shipments to India
Saudi Arabia may recover part of its previous market share on the Indian market, especially after the US sanctions on Iran.
Saudi Arabia may recover part of its previous market share on the Indian market, especially after the US sanctions on Iran.
India was the second biggest importer of Iranian oil after China before the US sanctions more than halved Iran's oil exports to 1 million barrels per day (b/d).
India has shipped around 277,600 barrels per day (b/d) in April, dropping by 31.5% from March.
Indian refineries have postponed their May orders for Iranian oil, waiting for a decision on whether the US will extend their waiver from the sanctions.
India will lease half of its southern Padur oil storage site to Abu Dhabi National Oil Company (ADNOC).
The US has granted eight Iranian oil importers temporary waivers from the sanctions set to be imposed upon the country’s energy sector on November 5.
Egypt is expected to begin operating the 100-MW first phase of the electricity link with Sudan by the end of this year, according to government sources.
The Abu Dhabi National Oil Company is planning to fill up storage tanks contracted from the Indian government in the first week of November.
Abu Dhabi National Oil Company (ADNOC) is constructing a crude oil storage facility under the Fujairah mountains in the UAE.
Saudi Arabia is preparing to export an additional 4 million barrels of crude to India in November.